Nykredit A S Buys New Stake in Principal Financial Group, Inc. $PFG

Key Points

• Nykredit A/S acquired 59,716 shares of Principal Financial Group during the second quarter, worth approximately $6.4 million. Institutional investors collectively own 75.08% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $108.83. Price targets cited range from $94 to $121.
• Principal Financial Group exceeded quarterly EPS expectations, reporting $2.50 versus the $2.33 consensus estimate, while revenue came in below forecasts. The company also raised its quarterly dividend to $0.84 per share, implying a 2.9% annual yield.

Nykredit A S bought a new position in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,716 shares of the company's stock, valued at approximately $6,436,000.

Other large investors have also modified their holdings of the company. Focus Financial Network Inc. boosted its position in shares of Principal Financial Group by 2.0% in the second quarter. Focus Financial Network Inc. now owns 5,613 shares of the company's stock worth $605,000 after buying an additional 110 shares during the period. Prosperity Consulting Group LLC grew its stake in Principal Financial Group by 1.6% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,921 shares of the company's stock valued at $624,000 after buying an additional 111 shares during the last quarter. Blue Trust Inc. grew its holdings in Principal Financial Group by 14.8% in the 1st quarter. Blue Trust Inc. now owns 921 shares of the company's stock valued at $83,000 after buying an additional 119 shares during the last quarter. Beacon Financial Group grew its position in Principal Financial Group by 2.8% in the 1st quarter. Beacon Financial Group now owns 4,451 shares of the company's stock worth $401,000 after purchasing an additional 120 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Principal Financial Group by 13.6% during the fourth quarter. Larson Financial Group LLC now owns 1,101 shares of the company's stock worth $97,000 after buying an additional 132 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Atlantic Securities set a $94.00 price target on shares of Principal Financial Group in a report on Wednesday, July 15th. Raymond James Financial restated an "outperform" rating and issued a $121.00 price objective on shares of Principal Financial Group in a report on Monday, August 17th. Weiss Ratings raised shares of Principal Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Principal Financial Group in a report on Thursday, September 3rd. Finally, Citigroup lowered Principal Financial Group from a "sell" rating to an "underperform" rating in a report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Principal Financial Group has a consensus rating of "Hold" and a consensus target price of $108.83.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $116.47 on Tuesday. The stock has a market capitalization of $24.94 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.06 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a fifty day moving average of $113.45 and a 200-day moving average of $104.53. Principal Financial Group, Inc. has a 52 week low of $77.90 and a 52 week high of $121.18.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.17. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter in the previous year, the business earned $2.16 earnings per share. On average, sell-side analysts expect that Principal Financial Group, Inc. will post 9.62 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 3rd will be issued a dividend of $0.84 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.82. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, September 3rd. Principal Financial Group's dividend payout ratio (DPR) is currently 47.73%.

About Principal Financial Group

Principal Financial Group, Inc is a global financial services company headquartered in Des Moines, Iowa. Founded in 1879, the company provides investment management, retirement, insurance and financial wellness solutions to businesses, individuals and institutional investors.

Principal offers employer-sponsored retirement plans, including defined contribution and defined benefit programs, as well as pension risk transfer solutions. Its insurance products and services include group benefits, individual life insurance and disability insurance.

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